What’s in a name.
Seemingly quite a lot if you are Kolar Gold PLC.
Kolar Gold’s (LON:KGL) share price jumped 15% to 1.33p on plans for a change of name to Lionsgold Limited.
The new name follows a management overhaul last year and reflects a growing relationship with Geomysore India and exploration potential in Finland, it said.
Shares rose 15% to 1.33p.
Sports betting Group GVC Holdings PLC (LON:GVC) perked up on an upbeat trading statement and confirmation it had paid off the €386mln loan from Cererus Business Finance.
Gaming income, meanwhile, rose by 7% in the fourth quarter, the best daily performance in 2018 despite some adverse results.
As a result, gaming revenue for 2016 is forecast €894mln, up 9% on the previous year and slightly ahead of previous guidance. Shares rose 7% to 657.4p.
Soco International PLC (LON:SIA) dipped as production in 2016 came in slightly below guidance of 10,000 barrels per day.
Development drilling in 2017 should arrest the production decline associated with almost two years of no drilling, said Ed Story chief executive. Shares eased 5% to 147p.
1pm ...Kodal Minerals latest to get lithium rush
Kodal Minerals PLC (LON:KOD) was another lithium beneficiary as it reported first results from drilling at Bougouni in Southern Mali.
Grades are seemingly immaterial are present such is investors’ keenness to get into the metal, but for the record the hole at the Ngoualana prospect returned 21m at 1.7% Li(2)O from 62m down.
A further seven drill holes from Ngoualana are awaiting assay results.
Drilling at the Sogola and Kola prospects also indicated high grades near the surface.
If you wondered where all of this lithium will be used, a report today suggested battery and other renewable –fuelled vehicles could have 10% of the market within ten years and 66% by 2050.
Fossil fuel demand, meanwhile, may peak by 2020.
Shares in Kodal rose 16% to 0.52p.
That growth in electric cars wouldn’t be such good news for Plexus Holdings PLC (LON:POS) , which rebounded 8% to 89.8p as it extended a longstanding framework agreement with Shell Brunei.
Plexus warned yesterday it been hit by a downturn in oil exploration, but believes that with demand for hydrocarbons predicted to grow, and mature fields in decline, the seeds are in place for the next cyclical upturn to take root.
Fashion retailer French Connection took a tumble as Mike Ashley’s Sports Direct International PLC (LON:SPD) appeared on the register as an 11% shareholder.
Buying stakes in rival store chains is something that the Newcastle United owner does on a fairly regular basis and more often than not it ends in a merchandising agreement, which may explain why French Connection shares fell 3% to 38.84p.
10.00am...Surface Transforms speeds ahead on new brake contract
Hi-spec brake manufacturer Surface Transforms PLC (LON:SCE) has been nominated to supply carbon ceramic brake discs for a new sports car.
Production is expected to start in the financial year 2018-19 and including prototype and development revenues the contract should generate revenues of £1mln.
Surface Transforms added all the road cars in the production run have already been pre-sold to end customers.
Previously, the company has supplied sports car makers Porsche, Aston Martin, Ferrari and also Nissan.
Shares rose 8% to 23.2p.
A mention of the L-word can work wonders on a share price.
Lithium is what we are talking about of course.
It worked for Premier African Minerals Ltd (LON:PREM) yesterday and it was the turn of Mkango Resources Ltd (LON:MKA), another Africa-focused junior, to benefit today.
Mkango has been exploring its Thambani licence in Malawi for uranium, tantalum and the rare earth mineral niobium but today it spelt out the lithium potential.
“The Thambani licence area is host to pegmatite occurrences, which can be a potential host rock for lithium. Furthermore, historical reports refer to an occurrence of a lithium mineral in the licence area,” it said.
Mkango did add that its main focus remains uranium and that the lithium would need more exploratory work, but the shares rose 20% to 3.75p even so.
Environmental and planning consultant RPS Group PLC (LON:RPS) has seen a strong profit recovery at its Energy division helped by significant currency movements and lower reorganisation costs.
RPS should also see a reversal of a chunk of a £7mln bad debt charge in 2015, with £4.2mln to be added back to the annual numbers this time..
“Even excluding this provision reversal, the group result was still well above current market expectations,” RPS said, with the second half especially good.
Shares rose 11% to 252p.